Power company Vattenfall has had its financial targets adjusted by its owner, the Swedish government.

Ministers now want the company’s adjusted net debt to sit between 22% and 27% instead of a range between 22% and 30%, while its profitability target has been cut to an 8% return on capital employed from 9%.

The company – which has shifted focus to renewable energy – will also be required to pay a dividend of between 40% and 70% of profit after tax, instead of 40-60%.